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“Shopped” = marketed for sale/acquisition to various potential acquirers.
Rising Star
This is the correct response.
Shopped = put up for sale/people kicked or are kicking the tires.
I think “shopped” in this context was that this firm was desperate for a merger for whatever reason (probably shaky financials/not that attractive)
That makes sense. Thank you!
I have heard of firms that "shop around" for a merger, but never "shopped."
Pro
Could mean that someone from your firm engaged (or initiated engagement without actually engaging) the other firm on a matter to see what the service was like.
That’s how we used to use the phrase when I worked at the front desk of a hotel and we would be asked to call around to other hotels to check on availability and rates.